Friday, September 08, 2006

THE TOWERS OF POWER

Venezuela holds tremendous potential to possess a highly developed power sector, thanks to its proven oil and mineral reserves. What is making things better is the fact that it has been privatized after 1998. After that, there has been a gamut of foreign companies that have tried to tap this potential. Besides this, a long list of rivers and upcoming hydro power plants within the country also provide resources for alternative sources of electricity, contributing around 68% of the total power generation. It’s no wonder that Venezuela has capacity to produce 21.5 gigawatts (GW) of power, which is one of the highest in the Latin American region.